S&C Advises Minera Escondida Limitada in Its $1.2 Billion Loan FacilityOctober 5, 2016
S&C advised Minera Escondida Limitada, a single-asset Chilean copper mining company, in entering into a new five-year syndicated loan facility. This loan facility will provide Escondida with unsecured financing in an aggregate amount of $1.2 billion to be used to repay existing indebtedness and to expand the Escondida project, which produces copper concentrate and cathode for export to Japan and elsewhere. The Escondida project was developed by BHP Billiton and Rio Tinto with minority Japanese interests and is the largest copper mine in the world. S&C has represented Escondida in all its U.S. financings.
The $1.2 billion loan facility was completed following the closing of an unsecured $750 million shareholder loan facility between Escondida and its shareholders on September 23.
The S&C team was led by Mr. Estes.